Chanel Owners and L’Oreal Heir Investing in Olsens’ The Row

The family behind the luxury brand Chanel and the billionaire heiress of L’Oréal have acquired a stake in The Row, the fashion label founded by the Olsen sisters.

According to sources familiar with the situation, who requested anonymity due to the private nature of the matter, the Wertheimer brothers, through their family office Mousse Partners, and Francoise Bettencourt Meyers’ investment firm, Tethys Invest, have purchased a minority stake in the brand. Additionally, Imaginary Ventures, co-founded by fashion entrepreneur Natalie Massenet, and Saint Dominique Capital, backed by businesswoman Lauren Santo Domingo, are also investing in The Row. The Olsen sisters will remain the majority shareholders, with the deal valuing the company at approximately $1 billion.

Representatives for Mousse, Tethys, The Row, Imaginary Ventures, and Saint Dominique declined to comment.

Founded in 2006 by Mary-Kate and Ashley Olsen, who gained fame as child stars in the sitcom Full House, The Row has established itself as a respected player in the quiet luxury sector, showcasing its collections during Paris Fashion Week. The brand is known for its leather handbags, such as the Margaux, which can retail for around $7,000.

Last year, Mousse, led by Charles Heilbronn, half-brother of Alain and Gerard Wertheimer, was part of a consortium of France’s wealthiest families that helped take Rothschild & Co. private.

The Chanel family office has also invested in various startups, including Brightside Health, digital advertising firm Brandtech Group, biotechnology company Evolved by Nature, and healthcare provider Thirty Madison. Alain and Gerard Wertheimer’s fortunes are each estimated at around $43 billion, according to the Bloomberg Billionaires Index.

The Bettencourt Meyers family’s Tethys has notably invested in French fashion label Sézane and Ceva Santé, which produces pharmaceuticals and vaccines for livestock and pets. Bettencourt Meyers’ wealth stems from her controlling interest in L’Oréal SA, where her family holds 34.73% of the shares. Her fortune is estimated at approximately $84 billion.

Imaginary Ventures, founded in 2017 by Massenet, known for launching luxury e-commerce site Net-a-Porter, and Nick Brown, aims to “support the most exciting businesses across the consumer landscape.” Santo Domingo is a co-founder of Moda Operandi, an online luxury fashion retailer.

The Row generated buzz earlier this year by requesting guests to refrain from using phones at its fashion show, preventing instant social media posts and creating an aura of exclusivity. Its upcoming spring/summer collection is set to be unveiled on September 25 in Paris.

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